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Switzerland | Tax Administrative Assistance Act comes into force

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The Swiss Federal Council resolved to bring the new Tax Administrative Assistance Act into force on 1 February 2013. No referendum was called. Consequently, group requests in accordance with the international standard will now be possible as well.

The Tax Administrative Assistance Act governs the execution of administrative assistance under double taxation agreements. It was approved by parliament on 28 September 2012. The referendum deadline expired on 17 January 2013 without a referendum being called. The existing ordinance governing the implementation of double taxation agreements will be repealed when the Tax Administrative Assistance Act comes into force on 1 February 2013.

Group requests in accordance with the international standard are also permitted with the entry into force of the Tax Administrative Assistance Act. Such requests require a description of the action taken by bank clients to avoid taxation and must be clearly distinct from fishing expeditions. In accordance with the Ordinance on Administrative Assistance in the Case of Group Requests According to International Tax Agreements, group requests are admissible for information on issues which concern the period of time from when the law entered into force.

(Source efd.admin.ch)

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